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Dollar momentarily constructive as U.S Govt. Yields rise massively...
The news monopolizing the financial newswires yesterday was the massive jump and subsequent selloff in U.S Government yields. US10Y jumped 20bps and closed above the important resistance of 3.70%. In Europe we see the German Unemployment numbers today, after consumer prices fell in several German states and preliminary national CPI was lower than expected. The Yen dropped 1.7% to 96.97 against the dollar as of 09:05 CET. Focus today will be on whether the dollar can break out of it’s current ranges especially against the Euro.
